The narrowing wage gap between high and low skilled workers in the Chinese labor market in recent years is suggestive of government interventions which may have been implemented in the capital markets. We develop a game theoretic model between a continuum of heterogeneous workers and the...

In a social network in which friendly and rival bilateral links can be formed, how do alliances between decision-makers form, and what determines whether a conflict will arise? We study a network formation game between ex-ante symmetric players in the laboratory to examine the dynamics of...

A flexible retirement policy has often been proposed as a solution to address the social dilemma of individuals in the population having different desired retirement ages. We analyze such a policy in an overlapping generations general equilibrium framework, where individuals differ in terms of...

In a school choice mechanism, school priorities are often based on student exam scores, by which student true ability may not be perfectly revealed. An ex-post fair matching mechanism (for example, Serial Dictatorship) can be undesirable in that it is not ex-ante fair: it may not match students...

We investigate the relative merits of the Boston and Serial Dictatorship mechanisms when the timing of students' preference submission over schools varies within the structure of the mechanism. Despite the well-documented disadvantages of the Boston mechanism (Abdulkadiroglu and Sonmez, 2003),...